Introduction
Kyle Davies, the co-founder and chairman of Three Arrows Capital, has announced that he will donate all future earnings from his new project, Opynx, to the victims of the recent $3.6 million exploit. Three Arrows Capital was one of the largest creditors affected by the exploit, which took place on the decentralized finance (DeFi) platform, Opyn. The exploit resulted in the loss of over 371,000 ETH, worth around $3.6 million at the time.
Three Arrows Capital’s Involvement in the Opyn Exploit
Three Arrows Capital was one of the largest creditors affected by the Opyn exploit. The firm had deposited over 50,000 ETH into Opyn at the time of the attack. Following the exploit, Three Arrows Capital worked closely with the Opyn team and other creditors to recover the lost funds.
The Launch of Opynx
Opynx is a new project launched by Kyle Davies and the Opyn team. The project aims to build a more secure and resilient options trading protocol on Ethereum. The Opynx team has stated that they will be implementing several security measures to prevent similar exploits from happening in the future.
Kyle Davies’ Donation to 3AC Creditors
In a recent tweet, Kyle Davies announced that he would be donating all future earnings from Opynx to the victims of the Opyn exploit. Davies stated that he wanted to do his part in helping those affected by the exploit and that he hoped his donation would encourage others to do the same.
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Conclusion
Kyle Davies’ decision to donate all future earnings from Opynx to the victims of the Opyn exploit is a commendable gesture. It shows that he is committed to helping those affected by the exploit and that he is willing to take responsibility for his role in the matter. Hopefully, other members of the cryptocurrency community will follow his lead and also donate to the victims of the Opyn exploit.
